Document Verification
Document verification of properties is a crucial step in ensuring the legitimacy and legal standing of real estate transactions. Here are key areas to cover during the document verification process.
- Verify the title deed to confirm ownership.
- Check for any encumbrances, liens, or mortgages on the property.
- Review the property survey to confirm boundaries and dimensions.
- Ensure that the property aligns with the information provided in the deed.
- Examine the sale agreement to verify the terms and conditions of the transaction.
- Confirm that all parties involved have signed the agreement.
- Check property tax records to ensure that taxes are up to date.
- Verify the assessed value of the property for tax purposes.
- Verify that the property's construction complies with approved building plans.
- Check for any violations or unauthorized modifications.
- Identify any encumbrances or easements that may affect the property.
- Understand the implications of these restrictions on property use.
- Confirm that the property complies with local land use and zoning regulations.
- Check for any restrictions on the type of development allowed.
- Verify the issuance of an occupancy certificate for completed constructions.
- Ensure that the property meets safety and regulatory standards.
- Check for any environmental clearances or restrictions related to the property.
- Assess potential environmental risks associated with the property.
- Examine the chain of title to trace the property's ownership history.
- Confirm that there are no gaps or disputes in the ownership chain.
- If applicable, review mortgage documents to verify outstanding loans.
- Confirm that any existing mortgages will be settled during the transaction.
- Ensure compliance with all relevant laws and regulations governing property transactions.
- Confirm that the property adheres to statutory requirements.